In an increasingly competitive global market, technology is changing the way people do business by offering the ability to purchase goods and services irrespective of location. This convenience is the core of eCommerce.
One of the most popular aspects of eCommerce is online shopping, which entails buying and selling goods with payments made via the internet. These transactions involve visiting a website or using an app, communicating via email, or making phone calls. Other aspects of eCommerce include payment gateways, internet banking, online auctions, and so on.
The growth of eCommerce has been rapid over the years, boosted by increasing access to mobile technology around the world, which has improved opportunities for both sellers and buyers.
Mobile commerce—an important aspect of eCommerce— is particularly growing fast due to the growing use of mobile devices such as smartphones and tablets. This commerce has made buying and selling accessible to people across the globe.
Currently, over 1.2 billion people worldwide access the internet from their mobile phones, and mobile commerce had a 39.6% share of eCommerce sales in 2018, 44.7% in 2019, and 49.2% in 2020. In previous reports, global eCommerce sales were expected to top $4.2 trillion in 2020, with more than 2.1 billion shoppers purchasing goods and services online by 2021.
One of the top trends, however, is the continued growth of mobile shopping. Now, more and more people are conducting transactions over mobile devices and enjoying efficient delivery services without barriers. This convenience indicates how much mobile commerce’s roles are vital in the overall eCommerce growth. Here are some other benefits:
The flexibility of mobile devices contributes greatly to the adoption of eCommerce, and customers can shop at any time, from the comfort of their homes. This flexibility is why online marketplace operators and eCommerce sites are optimizing their platforms for mobile use and enhancing the experience for online shoppers.
2. Secure Payments
Second, more secure payment systems have been developed and integrated into growing mobile commerce platforms. This inclusion significantly reduces the risk of both buyers and sellers falling victim to online fraud. Customers can also make payments using e-wallets.
3. Smartphones and Tablets
Manufacturers are now equipping smartphones and tablets with larger and better screens, as well as more advanced hardware and software features. These modern products, when combined with more user-friendly apps, make online shopping more appealing to people.
The capability of augmented reality is also worth noting, which allows shoppers to view products in real time using their mobile devices. This new feature may become more popular in the eCommerce space in the near future.
As the internet and smartphones become more accessible to people of all socioeconomic backgrounds around the world, it is expected that mobile commerce will not only contribute significantly to eCommerce growth, but also play a critical role.
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